Cooperman says he made the case for the same stock at last year's SALT conference, and that it subsequently rose around 65%. He thinks it could doulbe from here.

He sees revenue ramping up to $958 million by 2018 from an estimated $208 million in 2015 with users nearly quadrupling to 200.9 million.

He says he's encouraged by investments in the company by Visa and Mastercard.

2:38 pm | Cooperman: S&P could end 2014 at 2000

Leon Cooperman says S&P could end year near 2000 if the Fed doesn't mess up the taper. Falling interest rates should be positive for stocks. He describes himself as "positive with a small 'p'."

2:35 pm | Burbank bullish on China internet

Burbank is focusing on China. He found that the U.S. retail market cap is 16.5 times China, while the Internet market cap is 4.6 times. E-commerce in China is just beginning to get comparative.

Burbank says China isn't going to let Western companies win the internet battle in that country. He says he's not negative on U.S. Internet companies, though.

2:28 pm | Growth vs. value

Burbank starts off with a chart on value versus growth. From the beginning of 2013 to end of February, things were relatively controlled. When growth started falling, lot of investors realized they had lot more risk in portfolio than they realized.

2:25 pm

This should be a good panel. Author and investor Joel Greenblatt is sitting down with Leon Cooperman of Omega Advisors, Steve Kuhn of Pine River Capital, Jeffrey Krontahl of KLS and John Burbank of Passport Capital to discuss their best ideas.

Michael Novogratz of Fortress says things have gotten so bad in emerging-market countries it will force change. He quips that Jim O''Neill of Goldman, who coined the term BRICs, was wise to retire before things went south in big emerging economies.

Novogratz repeats what he said last week at the Sohn Conference, a victor by Dilma Rousseff in Brazil would be tough for the country, but even then she would be under a lot of pressure to purse reforms.

1:13 pm

SALT is taking a coffee break. We'll be back for a pair of panels featuring Leon Cooperman, Michael Novogratz and others.

1:11 pm | Tepper cut stock exposure to 60%: CNBC | by William Watts

David Tepper expounded on his market-shaking remarks from Wednesday night, telling CNBC that he cut his equity exposure to around 60% from 100% around six months ago but that he's still bullish on stocks like Google and Priceline.

Rubenstein says right now, half the deals getting done in private equity are one PE firm selling to another. Markets are not cheap, and I would also say interest rates are relatively low and debt is relatively available. That's made for some "froth."

PE firms are paying roughly the same EBITDA ratio as before but leverage is higher.

"Generally, I wouldn't say that people are stealing companies right now," he says.

Rubenstein says Europe is the “largest emerging market in the world.” Prices have been beaten down and are attractive.

Europe’s old East-West divide is now a North-South divide.

But overall, things are in “reasonable shape” in Europe, making it a good place to invest right now.

11:33 am | No recession any time soon | by William Watts

What about the U.S.?

Rubenstein offers a laundry list of troubles, including income inequality, but says the economy is in pretty good shape. Work needs to be done on reducing debt, growing income inequality, entitlement reform and taxes.

He doesn't see the threat of a recession any time soon.

11:31 am | China top for investment only after U.S.. | by William Watts

Rubenstein is being inteviewed by Gregory Fleming, head of Morgan Stanley Wealth Management.

He's asked how things look in China.

China growing at 7% to 7.5% is a source of obsession, but it's still growing faster than any major economy in the world, he says. China probably needs to grow at around 6% to 6.5% to keep employment growing, but the country is the most attractive for investment in the world after only the U.S.

Chinese officials understand capitalism, he says, and understand finance as well as anybody. For long-term investors, China is one of the best places to invest, he says.

11:23 am

First up is David Rubenstein, the head of private-equity giant Carlyle Group.

11:10 am | Tepper gives markets a Vegas hangover | by William Watts

What happened in Vegas didn't stay in Vegas. David Tepper of Appaloosa management stole the headlines Wednesday on the first day of this year's conference. Stocks are lower as market participants digest a cautious, though not outright bearish, call on the market from last year's most highly-compensated hedge fund manager.

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